EX-10.13 10 nt110590ex1013.htm EXHIBIT 10.13

Exhibit 10.13

NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION

DESCRIPTION OF EXECUTIVE OFFICER
COMPENSATION ARRANGEMENTS

The following is a description of oral compensation arrangements between Northern Technologies International Corporation and the following executive officers of NTIC as of August 31, 2006:

Name of Executive Officer		Title		Base Salary		Bonus Arrangements		Stock Options		Other
G. Patrick Lynch		President and Chief Executive Officer		$190,000 per year. See footnote (1) below		See footnote (2) below		Stock options to purchase shares of NTIC common stock are granted from time to time in the sole discretion of the NTIC Board of Directors.		Under NTIC’s 401(k) Plan, participants, including executive officers, may voluntarily request that NTIC reduce pre-tax compensation by up to 15% (subject to certain special limitations) and contribute such amounts to a trust. NTIC contributed an amount equal to 3.5% of the amount that each participant contributed under this plan.
										Executive officers receive other benefits received by other NTIC employees, including health, dental and life insurance benefits.
Dr. Donald Kubik		Vice Chairman and Chief Technology Officer		$170,000 per year. See footnote (1) below		See footnote (2) below		See above		See above
Matthew C. Wolsfeld		Chief Financial Officer and Secretary		$145,000 per year. See footnote (1) below		See footnote (2) below		See above		See above

(1)	Annual base salaries for NTIC’s executive officers are determined each year by NTIC’s Compensation Committee.
(2)	Annual performance bonuses for NTIC’s executive officers are determined each year by NTIC’s Compensation Committee and can be comprised of cash and/or a stock bonus.